Cardinal Health, Inc. $CAH Stock Position Raised by Retirement Systems of Alabama

Retirement Systems of Alabama grew its holdings in Cardinal Health, Inc. (NYSE:CAH) by 2.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 386,632 shares of the company’s stock after buying an additional 10,079 shares during the period. Retirement Systems of Alabama’s holdings in Cardinal Health were worth $86,026,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CAH. Pinnacle Associates Ltd. increased its holdings in shares of Cardinal Health by 2.9% during the third quarter. Pinnacle Associates Ltd. now owns 1,404 shares of the company’s stock valued at $312,000 after acquiring an additional 39 shares in the last quarter. Parallel Advisors LLC grew its position in Cardinal Health by 1.4% during the 3rd quarter. Parallel Advisors LLC now owns 3,004 shares of the company’s stock worth $668,000 after purchasing an additional 41 shares during the last quarter. LWM Advisors Inc. increased its stake in Cardinal Health by 4.4% during the 2nd quarter. LWM Advisors Inc. now owns 1,028 shares of the company’s stock valued at $244,000 after purchasing an additional 43 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in Cardinal Health by 2.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,793 shares of the company’s stock valued at $426,000 after purchasing an additional 43 shares in the last quarter. Finally, Raleigh Capital Management Inc. raised its holdings in shares of Cardinal Health by 2.9% in the third quarter. Raleigh Capital Management Inc. now owns 1,541 shares of the company’s stock worth $343,000 after buying an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

CAH stock opened at $273.95 on Tuesday. The firm’s fifty day simple moving average is $241.24 and its 200-day simple moving average is $223.87. The company has a market capitalization of $63.44 billion, a P/E ratio of 35.44, a price-to-earnings-growth ratio of 1.57 and a beta of 0.53. Cardinal Health, Inc. has a 12 month low of $180.45 and a 12 month high of $286.29.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, November 5th. The company reported $3.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.94 by $0.32. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The firm had revenue of $67.51 billion during the quarter, compared to analysts’ expectations of $66.67 billion. During the same quarter last year, the company posted $2.55 earnings per share. The firm’s revenue was up 5.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Cardinal Health, Inc. will post 12.86 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CAH. Morgan Stanley boosted their price objective on shares of Cardinal Health from $265.00 to $286.00 and gave the company an “overweight” rating in a report on Friday, October 30th. Mizuho set a $290.00 target price on Cardinal Health in a research note on Thursday. Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Sunday, October 25th. Leerink Partners set a $292.00 price target on Cardinal Health in a research report on Tuesday, August 11th. Finally, Citigroup boosted their price target on Cardinal Health from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Sixteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $274.00.

Insider Buying and Selling

In other Cardinal Health news, CAO Mary C. Scherer sold 2,302 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $237.39, for a total transaction of $546,471.78. Following the sale, the chief accounting officer directly owned 2,811 shares of the company’s stock, valued at approximately $667,303.29. This trade represents a 45.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Deborah Weitzman sold 7,354 shares of Cardinal Health stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $235.45, for a total value of $1,731,499.30. Following the transaction, the chief executive officer owned 77,901 shares of the company’s stock, valued at $18,341,790.45. The trade was a 8.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 210,271 shares of company stock valued at $49,626,657 in the last 90 days. 0.12% of the stock is currently owned by insiders.

Cardinal Health Company Profile

Cardinal Health is a healthcare services and products company that distributes pharmaceuticals and medical supplies. Its customers include pharmacies, hospitals, surgery centers, physician offices and other healthcare providers.

The company’s businesses include pharmaceutical distribution and specialty services, as well as the sourcing and distribution of medical and surgical products. Its offerings support areas such as specialty medications, medication management and supply-chain operations.

Cardinal Health traces its roots to a wholesale business founded in Ohio in 1971 and later expanded into pharmaceutical distribution.